I believe that Lightroom is still being sold outright, as well as availabile on a leased basis. The raw converter in the most recent version of LR should handle raw files from your new camera directly without requiring an intermediate DNG step and have improved NR algorithms and camera profiles than availabile with a DNG to (old) ACR approach, so u might want to consider using LR.
Another benefit of this approach is that most working pros ( i.e., who typically have to process many more images per day than most non-pros) feel that the user interface to the raw converter in LR is vastly better than the UI for ACR for PS.
HTH,
Tom M
PS - I just double checked - the latest version of LR will indeed handle the files from your camera. In fact, it looks like your camera puts out ordinary cr2 files so the last several LR releases should be able to read them, and thereby save you some money. That being said, for the price you paid for that camera, not wanting to spend ~ $10/month for the latest version of LR would seem like false economy.